天富龙开启申购

Core Viewpoint - Tianfulong has initiated its IPO with an issuance price of 23.60 yuan and a price-to-earnings ratio of 20.93 times, aiming to raise 7.9 billion yuan for its projects in Zhuhai [1] Company Summary - The total number of shares issued is 40.01 million, with actual fundraising amounting to 9.44 billion yuan, which will be allocated to a project producing 170,000 tons of low-melting-point fibers and 10,000 tons of high-elasticity fibers, expected to generate an annual output value of 2.3 billion yuan upon reaching full capacity [1] - The company specializes in the research, production, and sales of differentiated polyester short fibers, expanding its product range from recycled colored polyester short fibers to differentiated composite fibers and new polyester materials [1] - As of the end of 2023, Tianfulong ranks first in the domestic market for sales of colored polyester short fibers and low-melting-point short fibers for automotive interiors [1] Industry Summary - According to the China Chemical Fiber Industry Association, the combined production capacity of the top four companies in the domestic polyester short fiber industry accounts for approximately 43%, indicating a market structure dominated by large enterprises supplemented by several small and medium-sized enterprises [1] - In the field of virgin polyester short fibers, Tianfulong ranks ninth in production, while it holds the second position in the production of recycled polyester short fibers [1] - Projected revenues for Tianfulong from 2022 to 2024 are 2.576 billion yuan, 3.336 billion yuan, and 3.841 billion yuan, respectively, with net profits attributable to the parent company of 358 million yuan, 431 million yuan, and 454 million yuan for the same years [1]